All states need rent increase laws.
No more than 3% per year.
Discussion
Would be kind of unfair considering inflation is higher than that
Them make wage increases match inflation....
Then*
Every employee can demand more or leave their job and find another.
Can, but that also comes withbthe risk of not being able to find one better.
64% of Americans are now living paycheck to paycheck.
Rent control is not the answer
Essentially rent control is saying;
"Hey look, we see you got extra money to make money from less fortunate folks you can only make so much before you start tipping over dominoes "
Over a long enough time horizon bitcoin will fix this. People will stop putting their savings in real estate and only own properties they reside in or do business in.
Rent control is a form of communism
I don't care what solve us all getting fucked paying more just to pay more, it just need to stop.
The root of the problem is that the money is broken, you can not fix this from within the current system. Socialism and communism will make the world worse. The best thing we can do is stack sats and opt in to the bitcoin only circular economy.
I’d guess you do care. You wouldn’t for example accept the death penalty for landlords who raise rent. I think what they are saying here is that if we look at all the things that rent control causes compared to what it accomplishes, you’re unlikely to like that better. Or at least that they don’t.
The classic story of economics is that law x with intent y fails to achieve y and ends up causing a bad, unintended z.
Well said Mark!
Marxism doesn't fix this.
I live in a rent controlled area, it sucks. Nobody wants to move, because then they get stuck with market rates which are waaaay higher than they should be, since landlords force new tenants to subsidize the old. Landlords don’t want to do maintenance for old tenants who are paying under market, so they do the minimum. Popular tactic is “renovating” the suite next door with jackhammers. Any excuse will be used to evict a tenant and reset the rate.
Lots of units just go to Airbnb which doesn’t get rent controlled and as a result vacancy is super low and it’s hard to find a place at all.
I’d rather just pay a free market rate.
Most renters are in the habit of, not my property n not my problem.
Landlord refusing to fix things?
Pay under market and sue them.
Something something socialist shitcoinery
This is not how markets work friend.
Years ago Walter Block did research on rent control. He took pictures of Hiroshima and rent controlled places, people couldn't tell the difference to any measurable degree.
Interesting.
Link?
This isnt the one I remember but it is probably good enough to get the point across https://mises.org/library/critique-legal-and-philosophical-case-rent-control
Oh ya more government price controls will fix the economy /s
When will people learn?
Thomas sowells "basic economics" has a chapter on rent control, you should give it a read.
Regulation of any kind is a driver for market centralization.
The last thing we want is a short term solution that creates more behemouth government-subsedized local monopolies that are impossoble to break up or drive out.
Rent inflation is not the core issue and if you try to solve it with a rent cap, you'll just end up with a different (and worse) problem than before.